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Why retailers may soon cut prices ‘like you’ve never seen before’

Why retailers may soon cut prices ‘like you’ve never seen before’

Bargain hunters may soon get big discounts at some of their favorite stores. And they have the COVID-19 pandemic to thank for the transactions. The

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Bargain hunters may soon get big discounts at some of their favorite stores. And they have the COVID-19 pandemic to thank for the transactions.

The Wall Street Journal reports that some of the country’s largest retailers – Walmart, Target and Macy’s – can offer major price breaks on products such as:

  • Electronics, including laptops and TVs
  • Sitting room clothes
  • Outdoor furniture

These products arrive two years late – thanks to pandemic – related supply chain issues – and now retailers are ready to offer big price breaks starting around 4 July.

Mickey Chadha, a Moody’s Investors Service analyst, told The Wall Street Journal: “There’s going to be discounts like you’ve never seen before.”

Why have retailers become so generous? According to the WSJ:

“Retail discounts are part of an effort to get buyers interested in buying again, as Americans shift their spending to concerts, dining out and trips they missed. Deep discounts are expected on large benches, appliances and patio furniture that are more expensive for companies to store in their warehouses, say analysts. ”

The WSJ says that some retailers may not be offering bargains too quickly. But others who sell their own product lines – like the Gap – may have no choice but to offer great deals soon.

Bargains are also more likely in metro areas, where more products were ordered during the pandemic, the WSJ reports.

On the other hand, products that are unlikely to get good deals are:

  • House staples
  • Kos
  • Luxury items

For more tips on reducing costs the next time you shop, check out “9 Best Shopping Apps to Save Money.”

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